Acerinox: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Acerinox shares, raising its target price for them from E12.
5 to E14, highlighting the quality of the Spanish group's mix in a report on European stainless steel producers.

The analyst says that in a global sector that has been considerably weakened by the emergence of Indonesia, he welcomes the recent strengthening of customs barriers in Europe, which should have a significant impact, with the recovery in demand expected in 2024.

At a time when the sector is at a low, Oddo BHF believes that the time is right to reinvest in the sector, although it prefers Outokumpu (attractive valuation) and Acerinox (quality of mix) above Aperam.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.